Quick plot to guesstimate LTC bounce targets.
Purple Fib was clearly in control of down wave.
Blue Fib took over immediately upon bounce.
The 12345 Elliott Wave is messy but within rules.
If 4 overlaps into 1 at all, then it is only corrective.
Corrective as in 12345 is really (A) of an ABC to come?
If wave 5 extends to 86.xx then more likely continuation of uptrend.
If wave 4 breaks into wave 1 then count is wrong and new prespective.
Since wave 2 was shallow but wide, 4 should be deep but narrow (quick).
Purple Fib was clearly in control of down wave.
Blue Fib took over immediately upon bounce.
The 12345 Elliott Wave is messy but within rules.
If 4 overlaps into 1 at all, then it is only corrective.
Corrective as in 12345 is really (A) of an ABC to come?
If wave 5 extends to 86.xx then more likely continuation of uptrend.
If wave 4 breaks into wave 1 then count is wrong and new prespective.
Since wave 2 was shallow but wide, 4 should be deep but narrow (quick).
Note
Nice fib confirmation. Absolutely do doubt bids are exactly on the line .
the Golden Ratio is my Religion
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the Trading View is my Nation
the Moderator Tag is my Flag
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.